MuchBetter, the award winning iGaming payments company, today announced the launch of MuchBetter cash, a unique cash-to-iGaming-account transaction service. Enabled by the MuchBetter API, MuchBetter cash allows customers to make free cash payments at offline retail locations directly into their iGaming accounts.
MuchBetter already offers customers the ability to top up their wallets with cash at participating points of sale in selected markets. The new solution will now enable cash payments to be instantly made to a designated player account, rather than deposited to the MuchBetter wallet. The MuchBetter cash service is free to customers, and the company hopes it will disrupt the cash payments monopoly that currently exists in iGaming payments.
“Cash-based payments in online gaming has been a monopoly for years”, said MuchBetter co-founder, Jens Bader. “It is a highly regulated area with strict KYC and AML requirements in all jurisdictions, making it hard for anyone to disrupt the status quo until now. MuchBetter Cash is a unique new service for participating iGaming merchants and a simple mechanism for them to collect cash payments with zero technical integration, since this is done directly via their existing MuchBetter API. They just need to opt-in to the new product. For regular players, MuchBetter Cash means direct cash deposits to their gaming accounts, with no additional steps or loading of intermediary accounts or entering voucher codes. Furthermore, customer pay-outs of winnings go back directly into their MuchBetter account and are immediately accessible with the MuchBetter MasterCard. This method will add substantial savings to payment processing costs for iGaming merchants while giving them another cash payment solution. It’s simply MuchBetter.”
The new MuchBetter cash service will initially be available in some selected European countries and available to all Operators accepting the MuchBetter wallet service.